Wall Street Still Recovering in Slow Rebuild: Parr

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Nov. 8 (Bloomberg) -- Gary Parr, vice chairman at Lazard, discusses the state of Wall Street and how the ECB’s rate cut helps the banking system to boost the European recovery. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

It is a slow rebuild.

The darwinian exercise.

M a we will talk about that in a bit.

Sarah, talk about this as well.

What does that signal for european wall street?

And tell something from my point of view.

It is still weak, still building, stabilizing.

The debt capital markets in europe are not that well established.

The banking system needs to work to provide liquidity.

It is supposed to help as long as the banks don't sit on the cash.

I want to go back to the idea that wall street is still recovering.

The idea by regulators is that wall street has recovered.

Is that fining hurting the recovery?

It is.

It may play through four years.

It is hard to tell how long i will go.

And bounces back between europe and the u.s.. you have a particularly interesting perspective on this.

You were involved in the deals.

Is it fair or unfair that jpmorgan and other banks are being penalized for the bad behavior of the banks they were forced to buy?

Jpmorgan stepped in and helped the economy and the system.

To find them guilty or have a liability follow -- there is a non-fairness issue.

Is james diamond and jpmorgan -- jamie dimon and jpmorgan being patargeted?

They did something's wrong with the london whale.

That was jpmorgan.

With the washington mutual liability -- there was an issue there.

They were not allowed time to conduct due diligence, examine, and isolate issues.

They did something bold.

Lots of talk about with gary parr at lazard.

It is the first day of

This text has been automatically generated. It may not be 100% accurate.

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